All Forum Posts by: Marie Thomas

 @Andrew C.I have the same questions about it as well.. for example, you now have say 5 leases that likely are all for different date ranges/terms and deposits etc. do you do all males or all females together - I'm assuming this depends on the state you're in?

 Hi there! I am working with a client looking to do this. I haven't personally done this type of rental strategy myself; however am curious to hear more about your experience. What types of properties are you using for this investment strategy? For example, 6bd, 4 bath with like 3,000sq ft or larger? Curious to know what type of property I should be considering/searching for/advising him on. Also, would you recommend this strategy to a new, unexperienced investor? My initial thoughts when it was mentioned, was to push him more to a standard multifamily investing strategy. Would love to hear the pros and cons. 

Thanks!
Marie 

Hi everyone! I'm new to Bigger Pockets - Does anyone have experience investing in Qualified Opportunity Zones? 

I  am from New London County, grew up in Norwich/New London, and own a multifamily in Mystic, CT. 

My business partner and I have been speaking with a VC company that is heavily invested in NL and learned that if you purchase a building in a QOZ and hold onto it for 10 years you can avoid the capital gains. 

I have a strong network here and know the key players/stakeholders in the community and am trying to learn how I can get involved to make an impact to change the community and restore the existing (beautiful) infrastructure. 

There have been quite a few "hot-headed" investors who came through and were unsuccessful. If I did have an opportunity, where do I start and how do I raise funds for it? Is the political fight worth it?

Here is what I've gathered thus far:

"In exchange for their investments, Opportunity Zone Fund investors may be able to decrease their federal tax burden through the preferential treatment of capital gains — in three key ways.

• -Tax Deferral - First, any capital gains on the money reinvested in an Opportunity Zone Fund will be temporarily deferred.
• -Tax Reduction [no longer available for new investments] - Furthermore, the taxes on those capital gains may be reduced if the Opportunity Zone investment is held for at least 5 years — and even further reduced if held at least 7 years.
• -Tax Elimination - Finally, any capital gains on the Opportunity Zone investment itself can even be eliminated — if the investment is held at least 10 years. You’ll find more details on how these federal tax benefits work here."

https://portal.ct.gov/decd/content/community-development/04_...

Thanks so much!

Marie Thomas 

Hi Mike! 
I don’t personally have the answer for you on this, however I do have someone in my network I’d be happy to connect you to. They mentioned the following in regards to your problem: 

“He would end up going with CRC/RPS which are surplus plus lines. But, yes we do those. Mainly the goal is for them to keep that policy for a year and then get the sprinklers in places.”

They seem to know what you need and can help… if you would like me to make the introduction please let me know! 

All the best,

Marie

What interests you in the SC area? 

Hi there! Welcome to BP! I agree with @Bryant Xavier I use Furnished Finder as you can input your proximity to the local hospitals and a lot of traveling nurses use it! There are also always people looking for interim housing. I will say, although I started my real estate investing journey with furnished short/mid term rentals, if you want to scale, long term unfurnished is likely the best way to go.

Hi there! I haven't worked with him, what is it that you're looking to do? I have an interior design business, perhaps I can point you in the right direction. 

Hi Ashwani! I have one that may be helpful for you. I'll send you a message!

Join as many real estate-focused groups in your area and NETWORK. Find people in your market who are already doing it and reach out to them to learn more. You may be able to meet the right person to team up with who could loan you the cash and find a seller financing deal! 

Live in flip is the way to go, that's what I did in CT. That way you can give up your rent (aka paying someone else's mortgage). Open a cc with a good point/interest rate/perks dedicated to the LLC, it will make it so much cleaner for taxes and you will receive points rather than using debit card with no add value. There is also an app called Keeper that can help you categorize expenses. I'm not familiar with your market but the faster you can start paying your own mortgage rather than someone else's you're one step closer to the long-term goal of financial freedom.

Yes, it will be exhausting, you will learn a lot, Youtube will be your best friend but don't give up. Best of luck!!